Crypto Whales buy $456M Ether in ‘natural rotation’ from Bitcoin
Cryptocurrency whales, or big investors, are buying hundreds of millions of Ether, as analysts point to an organic rotation of investor mindshare toward altcoins with more upside potential.
Nine “massive” whale addresses bought a cumulative $456 million worth of Ether (ETH) from Bitgo and Galaxy Digital, blockchain data platform Arkham said in a Tuesday X post.
The growing whale demand for the world’s second-largest cryptocurrency signals the market’s “natural rotation” into Ether and other altcoins with more upside potential, according to Nicolai Sondergaard, research analyst at crypto intelligence platform Nansen.
“A lot of this looks like natural rotation, investors locking in profits from Bitcoin’s run and moving into…
